BEFORE THE BELL: Chinese investment and tech sector gains boost markets
Global markets are getting boosted by Chinese government investment and the tech sector.
Experts say China is looking at easing its monetary policy as the central bank put about $75 billion into the market through commercial bank loans. This is believed to be a response to the economic slowdown in China caused by an escalating trade war with the US.
Meanwhile, Google owner Alphabet reported higher than expected earnings in its second quarter, pushing the company’s value to over $870 billion. And traders are looking back to interest rates ahead of a US GDP report coming Friday. Forecasts have put the economic growth anywhere between 4.1 and 4.8 per cent.
Crude is gaining ground again as the price of US oil climbs to 68.22 a barrel.